Egypt: Inflation accelerates slightly in January
Consumer prices increased 0.7% in January from the previous month due to higher food and beverage prices, contrasting the 0.2% month-on-month decrease in December, according to a monthly inflation note released on 15 February.
Inflation accelerated to 7.2% in January from 7.1% in December, remaining within the lower-half of the Central Bank’s Q4 CY 2020 target range of 6.0%–12.0%. Annual average inflation decelerated to 8.7% in January from 9.2% in December.
Core consumer prices—which do not include volatile prices such as food prices—increased 0.7% in January from the previous month, up from the 0.2% rise in December. Core inflation, meanwhile, accelerated to 2.7% in January from 2.4% in December.